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US Treasury Bill Purchase-Price Calculator

Convert a quoted bank-discount rate and actual days to maturity into modeled T-bill price and maturity interest.

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Good to know: Independent ToolsKo worksheet. Official references reviewed November 11, 2026. Example inputs are not current offers or personal advice. Uses Treasury’s bill bank-discount formula: face value × (1 − discount rate × actual days / 360). Enter BANK DISCOUNT rate as a percent, not APY, coupon-equivalent investment rate or a note/bond coupon. Price per USD 100 is rounded to six decimals, then the purchase amount to cents. Supports USD 100 increments and 1–366 actual days; does not infer issue/maturity dates or a standard term’s exact day count. No live rates or auction forecast. Models holding to maturity; excludes taxes, brokerage charges, secondary-market sale prices, reinvestment and non-bill securities. Not an order or an investment recommendation.

How to use it (step by step)

  1. 1Copy the bill’s bank-discount rate and actual issue-to-maturity day count from official auction terms/results. The sample rate is illustrative.
  2. 2Enter intended face value in USD 100 increments and the rate as a percentage, for example 4.5 for 4.5%.
  3. 3Read the modeled cash purchase price and face-value difference at maturity. Verify actual allocation and payment against the official auction result.

Words to know

Face value
The amount repaid at maturity under the bill terms, different from cash paid at purchase.
Bank-discount rate
A quoted annualized rate using face value and a 360-day basis, not the same as investment yield or APY.

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Sources & methods

References checked November 11, 2026. Read each tool’s scope and assumptions before relying on its result.

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